Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "Database Automation - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets.com's offering.
Market Growth Driven by Heightened Demand for Efficiency and Automation in Data Management
As the data management landscape evolves and expands, the need for streamlined database operations becomes increasingly critical. The Database Automation Market is poised for a substantial upsurge, with estimates projecting growth from USD 2.35 billion in 2024 to USD 6.99 billion by 2029, marking a vigorous Compound Annual Growth Rate (CAGR) of 24.38% over the forecast period.
Advancements in Technology Propel Market Expansion
Cutting-edge technological advancements are creating innovative solutions for recurrent database management challenges. The emergence of autonomous databases is significantly simplifying traditional operations such as data backups, tuning, and security. By integrating artificial intelligence (AI) and machine learning (ML), database automation is now offering comprehensive automation for various facets of database management, including provisioning, updates, and error prevention.
Telecommunications Sector Witnesses Notable Growth
Within the telecommunications realm, there is a substantial influx of data, prompting a surge in demand for cloud services capable of high-scale data integration. Partnerships between telecom companies and database automation service providers are becoming increasingly standard, contributing to the growth of the market segment. These collaborations provide advanced solutions that facilitate uninterrupted services and support rapid machine learning and deep learning applications, which necessitates efficient and extensive data management systems.
North America Maintains Dominance in Database Automation Market Share
North America is set to hold a significant portion of the database automation market. This is credited to the rigorous technology adoption by leading IT entities, as well as the prevalent implementation of Big Data solutions across various industries. Furthermore, notable investments in modular data centers and a focused 'cloud-first' strategy by the Government of Canada demonstrate the region's commitment to evolving its IT infrastructure. The region's advancements solidify its position as a pivotal player in advancing the database automation industry.
Competitive Landscape
The database automation market experiences a moderate level of fragmentation due to the presence of established entities competing to provide superior solutions. These organizations are engaging in strategic collaborations and acquisitions to reinforce their market positions and fulfill customer demand. The market is characterized by high investment requirements and a rapidly transforming technological landscape. This market scenario underscores the importance of database automation as a crucial tool in the efficient management of increasing volumes of data, compliance with evolving regulations, and the augmentation of IT agility to support digital transformation strategies across industries.
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